Sportradar AG, a data provider backed by the NFL and Michael Jordan, is launching a new sports-gambling marketing company, seeking to capitalize on the rapidly growing billion-dollar industry.

Called Ad:s, the company will help sports books reach new customers through TV, radio, internet and digital-video marketing. It will also help companies navigate local jurisdictions' laws and regulations regarding gambling ads, especially as more U.S. states mull legalizing sports betting.

Many possible Ad:s customers are already Sportradar clients. The company works with William Hill Plc, Paddy Power Betfair Plc and Ladbrokes Coral Group Plc to provide broadcasts and official data from leagues. The live streams show up alongside betting platforms, and the data are used to power what's called in-game wagering. Sportradar also has its own media products -- like data packages for TV networks -- which Ad:s can use in its packages for clients.

Sportradar was founded in 2003 and is based in St. Gallen, Switzerland. Last year, the Canada Pension Plan Investment Board and private equity firm TCV acquired a minority stake that valued the company at $2.4 billion. Other investors include the National Football League, and a trio of NBA owners: Jordan, Mark Cuban and Ted Leonsis.

Since a Supreme Court ruling last year legalized sports betting, seven U.S. states have begun taking wagers, with at least a dozen more considering legislation in 2019. At the time of the court decision, Evercore ISI analyst Anthony DiClemente estimated that sports betting could drive $7 billion in additional U.S. ad spending in 2019.